AgriStability is an important part of a comprehensive suite of risk management programs. AgriStability protects producers from large declines in their farming income caused by production loss, increased costs or market conditions.
Your allowable income and expenses for all the commodities you produce are used to calculate your margins, protecting the income of your whole farm.
AgriStability coverage improved. There is still time to apply.
The government has announced that Ontario farmers with low expenses will see increased AgriStability coverage as a result of the removal of the reference margin limit (RML), starting with the 2020 program year. In addition, the deadline to apply for 2021 has been extended to June 30, 2021.
For the RML removal, customers do not need to do anything differently when completing their Year-end Report and Claim Form. Agricorp will simply process forms with the RML removed from the payment calculation.
To learn more, read AgriStability coverage improved. There is still time to apply.
AgriStability Cash Reference Margin pilot aims to reduce paperwork
The federal and provincial governments have created an AgriStability pilot to help producers participate in the program by reducing the amount of information they need to provide.
Producers who file their taxes on the cash basis can have their reference margin based on the cash income and expenses they report for income tax purposes, with no accrual adjustments (the production margin will still be calculated with accrual adjustments). This pilot will allow them to align their reference margin with their tax filing method.
participate in the Cash Reference Margin pilot for the 2021 program year, download the consent form and send a signed copy to Agricorp by March 31, 2022.
Read more in Cash Reference Margin pilot aims to reduce AgriStability paperwork.
AgriStability interim payments
An AgriStability interim payment could provide cash flow now – when producers need it most. Customers whose income has declined substantially and have completed six months of their fiscal year can submit an interim payment application. Interim payments are 50 per cent of a producer's estimated final payment.
Do you have private income insurance?
To increase the potential for AgriStability payments, private insurance indemnity payments will be excluded from calculating a participant's program year margin. How Production Insurance is treated remains unchanged.
Private insurance refers to third-party, producer-funded coverage for revenue losses of allowable commodities. Private insurance does not refer to Production Insurance or non-agricultural insurance coverage, such as property insurance.
For more information, see the AgriStability program guidelines or call Agricorp.
Your AgriStability Protection
Why include AgriStability in your business risk management plans?
AgriStability is part of the suite of programs established under the Canadian Agricultural Partnership agreement on agricultural policy. The costs of AgriStability are shared by the federal and provincial governments on a 60:40 basis. In Ontario, AgriStability is delivered by Agricorp.